RBI supersedes Board of New India Co-operative Bank

India's central bank supersedes board of New India Co-operative Bank
India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender. The action,
New India Co-operative Bank fraud: Ex-GM booked for allegedly siphoning Rs 122 crore
Police suspect Mehta had an accomplice, and the case has now been transferred to the Economic Offences Wing (EOW) for further investigation.
RBI supersedes New India Cooperative Bank board for 12 months
Reserve Bank of India superseded the Board of Directors of New India Cooperative Bank Ltd, Mumbai, for a period of 12 months, the central bank said in a statement on Friday, a day after it imposed several restrictions on the lender.
RBI supersedes New India Co-operative Bank board for 12 months after imposing restrictions over lending irregularities
RBI’s action was necessitated due to certain material concerns emanating from poor governance standards observed in the Mumbai-headquartered New India Co-operative Bank.
Spooked by RBI ban, New India Co-op Bank customers throng branches
All requests for withdrawal of funds were turned down, with banners at branch gates saying deposits would be paid back in around 90 days
RBI restrictions on New India Co-op Bank: ‘All our savings stuck in this bank’
Panic gripped customers of New India Co-operative Bank after the Reserve Bank of India (RBI) imposed severe restrictions on withdrawals for six months due to concerns over the bank’s financial stability.
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
The Reserve Bank of India (RBI) on Friday took control of the board of Mumbai-based New India Cooperative Bank for a year and appointed former SBI chief general manager Shreekant as the administrator to oversee its operations,
RBI imposes curbs on New India Co-Operative bank
India's banking sector is facing fresh turbulence as the Reserve Bank of India has imposed strict restrictions on Mumbai-based New India Cooperative Bank due to liquidity concerns. Watch in for more details!
State Bank of India sees sector's personal loan woes easing on tighter credit rules
State Bank of India (SBI), the country's top lender by assets, expects the industry's concerns over retail borrowers ...
New India Co-operative Bank Row: EOW Detains Former GM Hitesh Mehta For Alleged ₹122 Crore Fraud
Hitesh Mehta was detained following an investigation at Aryavrat Society. He was taken to the EOW office for interrogation.
State Bank of India falls Friday, underperforms market
State Bank of India closed 20.84% below its 52-week high of 912.10 rupees, which the company achieved on June 3rd.
The Week20m
Troubles at New India Coop Bank: Case filed against former General Manager for embezzlement
A day after the the Reserve Bank of India superseded the board of the New India Cooperative Bank, Mumbai Police have ...
ED Hyderabad restores ₹30.71 crore worth of properties to SBI in money laundering case
ED Hyderabad Zonal Office facilitates restitution of ₹30.71 crore properties to SBI in money laundering case against Sheetal Refineries Ltd ...
State Bank of India falls Tuesday, still outperforms market
State Bank of India closed 19.86% below its 52-week high of 912.10 rupees, which the company achieved on June 3rd.
The State of Credit: Exploring opportunities, challenges, and the future of digital lending in India
Digital lending is reshaping credit access across India, with projected disbursements reaching ₹47.4 trillion by FY26. Mint’s new anthology of the digital revolution in lending, ’The State of Credit’, ...
Mumbai: Retired SBI Couple Duped Of ₹6.74 Lakh By Scammer Posing As Bank Manager; Case Registered
Mumbai: A couple, both retirees from the State Bank of India, lost Rs 6.74 lakh to a scammer, who posed as a bank manager and ...